Stanley Laman Group Ltd. increased its stake in Veeva Systems Inc. (NYSE:VEEV) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,889 shares of the technology company’s stock after acquiring an additional 498 shares during the period. Veeva Systems makes up about 1.9% of Stanley Laman Group Ltd.’s holdings, making the stock its 8th largest holding. Stanley Laman Group Ltd.’s holdings in Veeva Systems were worth $10,588,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in Veeva Systems in the third quarter valued at $796,000. Summit X LLC acquired a new stake in Veeva Systems in the third quarter valued at $28,000. MUFG Americas Holdings Corp acquired a new stake in Veeva Systems in the fourth quarter valued at $26,000. Graves Light Private Wealth Management Inc. acquired a new stake in Veeva Systems in the fourth quarter valued at $27,000. Finally, Financial Avengers Inc. acquired a new stake in Veeva Systems in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 77.54% of the company’s stock.
In other news, EVP Alan Mateo sold 2,666 shares of Veeva Systems stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $290.21, for a total transaction of $773,699.86. Following the completion of the sale, the executive vice president now directly owns 4,610 shares in the company, valued at approximately $1,337,868.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Lynne Hedley sold 95 shares of Veeva Systems stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $288.54, for a total transaction of $27,411.30. Following the sale, the director now owns 1,486 shares of the company’s stock, valued at $428,770.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,901 shares of company stock valued at $10,760,730. 14.38% of the stock is owned by insiders.
Veeva Systems (NYSE:VEEV) last announced its quarterly earnings data on Monday, November 30th. The technology company reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.10. The firm had revenue of $377.52 million during the quarter, compared to the consensus estimate of $361.86 million. Veeva Systems had a net margin of 24.88% and a return on equity of 15.73%. The firm’s revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. On average, equities research analysts forecast that Veeva Systems Inc. will post 1.95 earnings per share for the current year.
Several equities analysts have issued reports on the company. Piper Sandler raised their price objective on Veeva Systems from $310.00 to $340.00 in a report on Monday, January 11th. Needham & Company LLC raised their price objective on Veeva Systems from $310.00 to $327.00 and gave the stock a “buy” rating in a report on Wednesday, December 2nd. Raymond James raised their price objective on Veeva Systems from $285.00 to $335.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. JPMorgan Chase & Co. lowered Veeva Systems from a “neutral” rating to an “underweight” rating and set a $297.00 price objective on the stock. in a report on Wednesday, December 9th. Finally, JMP Securities raised their price objective on Veeva Systems from $293.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, December 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $290.96.
Veeva Systems Profile
Veeva Systems Inc provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of multichannel customer relationship management applications, commercial data warehouse, allocation and alignment applications, master data management application, and data and services; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.
Further Reading: Market Perform
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